The Mission Bank Provides SBA Loan to Buy Allstate Home Inspection And Environ Franchise

Borrowing money to invest in an Allstate Home Inspection And Environ franchise? The Mission Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Allstate Home Inspection And Environ franchise is doable. In 2003, The Mission Bank issued an SBA franchise loan to an entrepreneur in Olathe, Kansas. Because Allstate Home Inspection And Environ was registered with the SBA's registry of franchises, this Kansas small business loan was issued on an expedited basis.

SBA Loan Borrower

FIVE STAR HOME INSPECTIONS INC
OLATHE, KS 66062

SBA Loan Lender

THE MISSION BANK
5201 JOHNSON DR
MISSION, KS 66205

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541350 - Building Inspection Services

Loan Approval Date

12/4/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Allstate Home Inspection And Environ franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Mission Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Small Business Loan

SBA Participating Banks in Mission, Kansas

Kansas SBA 7A Lenders